HAC News Formats. pdf

October 5, 2017
Vol. 46, No. 20

Tax proposal would keep LIHTC • House and Senate budget resolutions moving forward • New initiative to combat sexual harassment in housing • HUD sets expedited review for PHAs and TDHEs in hurricane-affected places • Brief examines differences between affluent and less affluent nonmetro counties • Bipartisan approach for Appalachia set forth in paper • National Housing Preservation Database updated • Health care workers cannot afford homes in many metro areas • UPCOMING HAC EVENTS • NEED CAPITAL FOR YOUR AFFORDABLE HOUSING PROJECT?

HAC News Formats. pdf

October 5, 2017
Vol. 46, No. 20

Tax proposal would keep LIHTC. The framework document released by the Administration and congressional Republicans on September 27 is not detailed, but it does specifically call for continuation of the Low Income Housing Tax Credit. It does not propose changing the mortgage interest deduction for homeowners who itemize deductions, but it would increase the standard deduction.

House and Senate budget resolutions moving forward. Both houses of Congress are working on FY18 budget resolutions; a final resolution will serve as a vehicle for tax reform legislation. On October 5, by a 219-206 vote, the full House of Representatives passed H. Con. Res. 71, which calls for cuts in domestic (non-defense) discretionary and mandatory programs. Also on October 5, the Senate Budget Committee is marking up its version of a budget resolution, which reportedly would cut domestic discretionary programs but not mandatory programs like Medicaid and Social Security. The Senate will be on recess the week of October 9 and the House will recess for the week of October 16.

New initiative to combat sexual harassment in housing. The Justice Department announced an initiative to increase its efforts to protect women from harassment by landlords and their employees. The effort will begin with pilots in Washington, DC and western Virginia.

HUD sets expedited review for PHAs and TDHEs in hurricane-affected places. Public housing agencies’ and tribes’ or tribally designated housing entities’ requests for relief from HUD regulatory and/or administrative requirements will receive expedited review and will be eligible for some flexibility. This process applies in portions of Texas, U.S. Virgin Islands, Puerto Rico, Florida, and Georgia that received federal disaster designations following Hurricanes Harvey, Irma, and Maria. For more information, contact Shelia Bethea, HUD, 202-402-8120.

Brief examines differences between affluent and less affluent nonmetro counties. A paper from the Carsey School of Public Policy at the University of New Hampshire compares residents of counties with average family incomes below the median for all U.S. counties to those living in upper-middle- and high-income counties. Low-income counties are concentrated in the South, and people who live there are less educated and less likely to be employed, reportsEmployment, Poverty, and Public Assistance in the Rural United States. African Americans are nine times more likely to live in low-income rural counties than in high-income ones. People living in middle-income rural counties were slightly more likely to vote for Donald Trump than were either those living in low-income or high-income rural counties.

Bipartisan approach for Appalachia set forth in paper. The Appalachia Initiative: A Bipartisan Approach for the 21st Century, released by the Bipartisan Policy Center, reports recommendations on improving job training, economic development, healthcare, and strengthening the infrastructure and energy sectors in the region. The suggestions were gathered by a task force co-chaired by Senators Joe Manchin (D-WV), David Perdue (R-GA), Thom Tillis (R-NC), and Mark Warner (D-VA).

National Housing Preservation Database updated. Among the changes is inclusion of properties with USDA Section 514 farmworker housing loans; Section 515 properties were previously included, along with LIHTC and HUD projects. The database, which enables users to examine the current stock of federally assisted rental housing, was created by the Public and Affordable Housing Research Corporation and the National Low Income Housing Coalition.

Health care workers cannot afford homes in many metro areas. The National Housing Conference has released its Paycheck to Paycheck 2017 report and database, covering both rental housing and homeownership. The database includes workers in 83 occupations in 203 metro areas nationwide. The report highlights five fast growing healthcare occupations: dental assistant, emergency medical technician, home health aide, licensed practical nurse, and physical therapy aide. Not a single worker in these occupations can afford to rent or purchase a home in every metro area.

UPCOMING HAC EVENTS
Section 502 Packaging Training for Nonprofit Housing Developers
October 17-19, Santa Ana Pueblo, NM
This three-day advanced course will teach participants to assist potential borrowers and deliver successful Section 502 loan packages. This course is intended for those experienced in using Section 502 and/or other affordable housing mortgage products. The registration fee is $750. For more information, contact Shonterria Charleston, HAC, 404-892-4824.

Veterans Aging Summit
October 20, Chapel Hill, NC
The event is sponsored by Purple Heart Homes, HAC, and the National League of Cities. For more information and to register contact Melanie Balousek, PHH.

Affordable Housing Resources Development Best Practices, Challenges and Opportunities
October 24, Decatur, AL
This comprehensive session will focus on rural affordable housing development. For more information, contact Shonterria Charleston, HAC, 404-892-4824. There is no registration fee, but advance registration is required.

Affordable Housing Solutions for Rural Veterans: A Symposium
December 5, Washington, DC
The symposium will showcase model programs that are providing homeownership, home repairs, service to the homeless, and rental housing options. There is no registration fee, but space is limited and advance registration is required. For more information, contact Shonterria Charleston, HAC, 404-892-4824.

NEED CAPITAL FOR YOUR AFFORDABLE HOUSING PROJECT? HAC’s loan funds provide low interest rate loans to support single- and multifamily affordable housing projects for low-income rural residents throughout the U.S. and territories. Capital is available for all types of affordable and mixed-income housing projects, including preservation, farmworker, senior, and veteran housing. HAC loan funds can be used for pre-development, site acquisition, site development, and construction/rehabilitation. Contact HAC’s loan fund staff at hacloanfund@ruralhome.org, 202-842-8600. Please note: HAC is not able to offer loans to individuals or families. Borrowers must be nonprofit or for-profit organizations or government entities (including tribes).